2023年金融科技报告-37页_8mb

Summary

In 2022, the public market experienced a significant correction for Fintech companies, which had seen extremely high valuations in 2021. The F-Prime Fintech Index declined 72%. This correction re-appraised many fintech firms, differentiating between tech-enabled incumbents and truly disruptive approaches. Neo-banks and lenders may rival traditional institutions over time, but embedded fintech models pose the most significant disruption. Fintech companies collectively grew LTM revenue 15% the first three quarters of 2022, adding $19B. Despite the sharp valuation cuts (average multiple fell from ~27× to ~5×), Fintech Index companies demonstrated strong organic revenue growth and resilience, with many companies still growing rapidly. M&A activity dropped significantly in 2022 as buyers and sellers adjusted to lower valuations. Despite the correction, the outlook points to continued innovation and growth potential across key verticals like payments, banking, and wealth management, particularly as fintech firms increasingly operate at scale and offer improved consumer experiences.